Barrington Medical Imaging and Echoserve as service providers for medical imaging equipment

Sep 22 2009

Barrington Medical Imaging, LLC and Echoserve, Inc. The two companies will be combined to create a nationwide, independent service provider for medical imaging equipment across multiple modalities and vendor platforms. The combined company will provide comprehensive imaging solutions to the medical imaging market, including field service, depot repair, parts and proprietary equipment sales, and the sales and installation of refurbished capital equipment. Senior management of Barrington Medical Imaging and Echoserve will remain an integral part of the combined company’s leadership team.

Galen Partners, a leading healthcare private equity firm, formed Medical Imaging Holdings, Inc. in conjunction with Jeff Soinski, a Galen special venture partner and past CEO of one of Galen’s portfolio companies, to build a technology-enabled service platform in the medical imaging market. Galen led the transactions and made a significant investment of growth capital into Medical Imaging Holdings, Inc.

“Reimbursement cuts and the resulting pressure on healthcare costs have created a need for improved efficiency in diagnostic imaging. Galen is proud of its track record of working with proven entrepreneurs to build technology-enabled healthcare companies that have improved provider performance and reduced their costs, including our investments in MedAssets, Pyxis and Chamberlin Edmonds,” commented David Jahns, Managing Director of Galen Partners. “Working with our special venture partners to identify and execute on unique business platforms is an important part of our investment strategy. We look forward to working with this management team to drive organic growth as well as strategic acquisitions.”

Barrington Medical Imaging and Echoserve will continue to conduct business under their existing names and maintain operations at their current facilities during the integration process. It is anticipated that a new name for the combined company will be introduced later this year.

“In the post-Deficit Reduction Act era and in the face of continued pressure on reimbursement rates, controlling costs is critical for hospitals and diagnostic imaging centers,” said Jeff Soinski, Chief Executive Officer of Medical Imaging Holdings, Inc. “By combining the technical capabilities, significant assets and, most important, the talented people of these two successful companies, we are well-positioned to provide high quality, cost-efficient solutions to the medical imaging market.”

"Through the use of proprietary technologies, including a vendor-neutral remote monitoring capability, unique repair capabilities, and deployment of our national network of highly-experienced field service engineers, our combined company will help customers reduce their service costs and enhance service quality levels,” added Christopher Cone, President and Chief Operating Officer. “By providing an enhanced service offering across multiple modalities, including ultrasound, mammography, CT, MRI and patient physiological monitoring, customers can consolidate their service needs to one best-in-class imaging solutions provider.”